42-14104

42-14104. Determining and reporting
valuation

A. On or before November 30 of each year the department shall transmit to the
respective county assessors the valuation of the oil, gas or geothermal resource
interests of each producer for each of the producer's properties in the county as of
January 1 of the valuation year.

B. The valuation required by this section is the value determined as of January 1
of the valuation year.

C. After determining the valuation of any producing oil, gas or geothermal resource
interest and before certifying the valuation to the county, the department, on the
producer's application or on its own motion, may change the valuation to properly reflect
the gross yield from the oil, gas or geothermal resource interest.